Toshiba's former CEO to join IBM board

IBM's board of directors has appointed Taizo Nishimuro, former president and CEO of Toshiba, to serve on the board from later this year.

TOKYO, 31 JULY 2008 - IBM's board of directors has appointed Taizo Nishimuro, former president and CEO of Toshiba, to serve on the board from later this year.

Nishimuro served as president and CEO of Toshiba between 1996 and 2000, after which he became chairman of the company until stepping down in June 2005. Nishimuro went on serve as president and CEO of Tokyo Stock Exchange and is currently chairman of the organization, which is one of the world's largest stock exchanges. He keeps ties with Toshiba as an advisor to the company.

He will join the IBM board in September this year as its 13th member.

"He has a unique understanding of the needs of Asian markets, and his knowledge and insights will make a significant contribution to our company," said Samuel Palmisano, IBM's chairman, president and CEO in a statement.

IBM did about one fifth of its business during the first six months of this year in the Asia Pacific region. Revenues during the period totaled US$10.5 billion, a jump of 15 percent on the same period in 2007. Performance in the region was lead by China, were business jumped 22 percent on a local currency basis or 15 percent on a U.S. dollar basis, IBM said. In Japan revenue increased 12 percent on a Japanese yen bases but decreased by 2 percent when adjusted to U.S. dollars.